Enovix Stock Is Rising After The Bell: What's Going On?
Portfolio Pulse from Adam Eckert
Enovix Corp (NASDAQ:ENVX) shares surged in after-hours trading following better-than-expected Q2 results and new collaborations. The company reported Q2 revenue of $3.768 million and a loss of 14 cents per share, both beating estimates. Enovix also announced new partnerships, including a collaboration with a Fortune 200 company and a Memorandum of Understanding with a global automotive OEM.
July 31, 2024 | 9:18 pm
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Enovix Corp shares rose 11.10% in after-hours trading after reporting better-than-expected Q2 results and announcing new collaborations. The company beat revenue and EPS estimates, and expects significant revenue growth in 2024.
The better-than-expected Q2 results and new collaborations with a Fortune 200 company and a global automotive OEM are likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100